1. Sovereigns Ratings List

Philippines Rating: Philippines Credit Rating

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Rating Moody's Philippines
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2024-08-23Baa2 (Stable)
2022-09-15Baa2 (Stable)
2020-07-16Baa2 (Stable)
2018-07-20Baa2 (Stable)
2017-06-27Baa2 (Stable)
2014-12-11Baa2 (Stable)
2013-10-03Baa3 (Positive)
2013-07-25(Under Review)
2012-10-29Ba1 (Stable)2024-08-23Baa2
2012-05-29(Positive)2022-09-15Baa2
2011-06-15Ba2 (Stable)2020-07-16Baa2
2011-01-06(Positive)2018-07-20Baa2
2009-07-23Ba3 (Stable)2017-06-27Baa2
2008-01-24(Positive)2014-12-11Baa2
2006-11-02(Stable)2013-10-03Baa3
2005-07-13(Negative)2012-11-08(P)Ba1
2005-02-16B1 (Stable)2012-10-29Ba1
2004-11-08(Under Review)2011-06-15Ba2
2004-01-27Ba2 (Negative)2009-07-23Ba3
2003-11-25(Under Review)2005-02-16B1
2003-11-15(Negative)2004-11-17Ba2
1997-05-18Ba12004-01-27Ba2
1995-05-12Ba22003-11-25Baa3
1993-07-01Ba31998-09-04Baa3
Moody's: Long term Rating
Rating S&P Philippines
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2019-04-30BBB+ (Stable)
2018-04-26(Positive)
2014-05-08BBB (Stable)2019-04-30BBB+
2013-05-02BBB- (Stable)2014-05-08BBB
2012-12-20(Positive)2013-05-02BBB-2014-05-08A-2
2012-07-04BB+ (Stable)2009-08-17BBB+2014-05-08A-22013-05-02A-3
2011-12-16(Positive)2005-11-03BB+2013-05-02A-32009-08-17A-2
2010-11-12BB (Stable)2005-01-17BB+1997-09-26B2005-01-17B
S&P: Long term Rating
Rating Fitch Philippines
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2020-05-07BBB2020-05-07F2
2020-05-07BBB2020-02-11BBB2020-02-11F2
2020-02-11BBB2019-05-30BBB2019-05-30F2
2019-05-30BBB2018-12-19BBB2018-12-19F2
2018-12-19BBB2018-07-17BBB2018-07-17F2
2018-07-17BBB (Stable)2017-12-10BBB2017-12-10F2
2017-12-10BBB (Stable)2017-03-29BBB-2017-03-29F3
2017-03-29BBB- (Positive)2016-07-22BBB-2016-07-22F3
2016-07-22BBB- (Positive)2016-04-08BBB2016-04-08F3
2016-04-08BBB- (Positive)2015-09-24BBB2015-09-24F3
2015-09-24BBB- (Positive)2015-03-17BBB2015-03-17F3
2015-03-17BBB-2014-03-25BBB2014-03-25F3
2014-03-25BBB- (Stable)2014-01-16BBB2014-01-16F3
2014-01-16BBB- (Stable)2013-03-27BBB2013-03-27F3
2013-03-27BBB- (Stable)2013-02-22BBB-2013-02-22B
2013-02-22BB+ (Stable)2012-11-20BBB-2012-11-20B
2012-06-19BB+ (Stable)2012-06-19BBB-2012-06-19B
2012-01-19BB+ (Stable)2012-01-19BBB-2012-01-19B
2012-01-04BB+ (Stable)2012-01-04BBB-2012-01-04B
2011-10-28BB+ (Stable)2011-10-28BBB-2011-10-28B
2011-07-31BB+ (Stable)2011-07-31BBB-2011-07-31B
2011-06-23BB+ (Stable)2011-06-23BBB-2011-06-23B
2006-02-13BB (Stable)2006-02-13BB+2006-02-13B
2005-07-11BB (Negative)2005-07-11BB+2005-07-11B
2005-05-26BB (Stable)2005-05-26BB+2005-05-26B
2004-12-07BB (Negative)2004-12-07BB+2004-12-07B
2003-06-12BB (Stable)2003-06-12BB+2003-06-12B
2002-11-25BB+ (Negative)2002-11-25BBB-2002-11-25B2020-05-07F2
2001-03-15BB+ (Stable)2001-03-15BBB-2001-03-15B2020-02-11F2
2001-01-17BB+ (Negative)2001-01-17BBB2001-01-17B2019-05-30F2
2000-09-21BB+ (Stable)2000-09-21BBB2000-09-21B2018-12-19F2
1999-07-08BB+1999-07-08BBB1999-07-08B2018-07-17F2
Fitch: Long term Rating

GradeMoody'sS&PFitch
PrimeAaaAAAAAA
High gradeAa1AA+AA+
Aa2AAAA
Aa3AA-AA-
Upper medium gradeA1A+A+
A2AA
A3A-A-
Lower medium gradeBaa1BBB+BBB+
Baa2BBBBBB
Baa3BBB-BBB-
Non-investment grade
speculative		Ba1BB+BB+
Ba2BBBB
Ba3BB-BB-
Highly speculativeB1B+B+
B2BB
B3B-B-
Substantial risksCaa1CCC+CCC+
Caa2CCCCCC
Caa3CCC-CCC-
Extremely speculativeCaCCCC
C
In default with little
prospect for recovery		SDRD
In defaultCDD
DD
DDD
Not ratedWRNR
GradeMoodysS&PFitch
High gradeP-1A-1+F1+
Upper medium gradeP-1A-1F1
Lower medium gradeP-2A-2F2
Non-investment grade
speculative		P-3A-3F3
Highly speculativeBB
Extremely speculativeNPCC